ACV TITLE POLICY
ACV Auction Sellers have the ability to sell vehicle two ways:
- Title with Deal: Guarantees that the seller has a transferable title in hand and will be turned into the ACV office within 5 business days from time of sale. Any vehicle where a title has not been received by ACV within the 5 business days can be turned down at any point after that until a title has been produced. (48hr. notice required)
- Title Attached: Gives the seller 21 days to produce a transferable title to the ACV office. (48hr. notice required)
Special Title Notes:
Clerical Errors – If a title problem is due to a clerical / coding error or incomplete documentation, ACV Auctions shall be given reasonable time after receiving notice to have the error corrected.
Buyers Responsibilities – ACV Auctions and Seller will not be responsible for any vehicle sale or repairs made to Title Attached vehicles in the event a title is not produced.
Seller Responsibilities – Sellers may be responsible for refunding transportation expenses for vehicle where a title could not be produced.
It will be the buyer’s responsibility to notify the ACV Auctions title department 48 hours prior to unwinding an auction due to a title not being produced. This will allow ACV Auctions to contact the seller and put them on notice of the pending arbitration. If the seller does not produce a transferable title to the ACV office by 5:00pm on the second day after notice was made the auction will be voided. The earliest the notice can be submitted from a buyer is Day 19, (Sale Day being Day 1).
When a seller runs a vehicle GREEN-LIGHT, they are ensuring to prospective buyers that Mechanical, Electrical and Frame are all in proper functioning condition. For an arbitration issue, a single defect must have a repair cost in excess of $500.* ACV Green-Light is a “Ride, Drive, and Frame” policy.
The buyer has 7 business days from the date of auction or 300 miles from listed in the auction (whichever occurs first) to bring a potential issue to the attention of ACV Auctions**. ACV Auctions will validate the issue and work with the seller and buyer to reach a resolution. The buyer may be required to provide additional photos or video, or bring the vehicle to a licensed third party repair facility to verify the existence or severity of an issue. If it is determined that the concern is arbitrable it will be the decision of the buyer to void the deal or request a price adjustment. Any and all responses or comments made by a seller in the condition report could be binding if determined that the vehicle was misrepresented within the listing. All vehicle condition disputes between buyer and seller must be facilitated by an ACV Auctions’ moderator and the ruling is final.
*All costs are figured by ACV Auction at wholesale dealer cost, which implies used, remanufactured, and/or aftermarket parts as well as discounted labor rates. Price adjustments may be made by the seller up to the amount necessary to resolve a problem will be figured off wholesale dealer costs.
** An additional 7 days from point of notification may be granted to buyer in order to get vehicle diagnosed properly
Seller disclosure requirements:
- Mechanical or Electrical defects in excess of $500 per item
- Vehicles not equipped with A/C (excludes vehicles 10 years old and older)
- Paintwork, 3 panels or more, current model year and newer (bumpers and brush touches not included)
- Voided factory warranties
- Frame Damage (existing, modified or repaired) per NAAA Structural Damage Policy
- Inoperative Odometer / TMU
- Salvage vehicle, (including current title or history)
- Previous Taxi, Livery and Emergency vehicles
- Flood Damage current or history (including documented by DMV or Insurance Company)
- Missing Catalytic Converters
- Warning lights (SES, ABS, SRS, etc.) if actual repair is in excess of $500
Exclusions to Arbitration Policies:
- Any disclosures made to or relating to a specific component will constitute no available arbitration on that component. It is the buyer’s responsibility to perform their research on any disclosed codes or defects and bid accordingly.
- No arbitration can be based on noises or conditions that are inherent or typical to a particular model or manufacturer, unless deemed “excessive” by the diagnosing dealership on non-warranty items. OEM dealer warranty guidelines will be used to determine whether the condition is excessive.
- ACV Auctions will not arbitrate vehicles for wearable items regardless of repair cost. For purposes of this policy wearable items are defined as parts of the vehicle that the manufacturer recognizes the need for replacement/adjustment during the expected life of the vehicle. These items are normally identified in the Owner’s Manual for routine check and replacement and would include, but not limited to: tires wipers, brake pads, shoes, rotors, belts, hoses, gaskets (except head gaskets), lubricants/fluids, timing belts, bulbs, filters, shocks & struts and standard transmission clutches.
- Frame Exclusions: ACV will not arbitrate bolt on components with respect to the frame, this includes bolt on cross members, bolt on engine cradles, and bolt on sub frames. Any component welded or riveted will be subject to arbitration. In addition, ACV will not arbitrate any properly installed Plow, 5th wheel hitches or towing packages.
- All vehicles listed for auction must have a public Vehicle Identification Number (VIN) plate attached to the vehicle. Any vehicles having a reassigned VIN plate by the State in place of the original VIN plate must be disclosed or will be subject to Arbitration
- Vehicles may not be arbitrated solely on Electronic Vehicle History Data (EVHD) (Carfax, Autocheck, etc.). ACV Auctions may investigate vehicle history based on information found in EVHD for information that may impact arbitration.
- Buyer will inspect the vehicle immediately upon arrival at Buyer’s location. The Buyer must verify the Seller’s representations and notify ACV Auctions immediately of any discrepancies within the time frame as stated in this arbitration policy. Buyer will verify odometer reading upon arrival at Buyer’s location. Mileage must be the same as when purchased if arbitrating for inoperable odometer.
- Sellers who sell on the ACV App must provide a condition report and have the additional responsibility to disclose defects or damage that are “visible” or “cosmetic” in nature with additional photos. Undisclosed defects or damage that are not visible in the photos may be subject to arbitration by the Buyer due to an inadequate disclosure of damage or condition if repair exceeds $500.
Vehicles being sold AS-IS are not subject to arbitration for mechanical, electrical, cosmetic, or visible damage. AS-IS vehicles will only qualify for arbitration under the seller disclosure requirements (listed below). Vehicles selling for $1000 or less will not be available for ANY arbitration with the exception of non-transferable or branded title. Any and all responses or comments made by a seller in the condition report could be binding if determined that the vehicle was misrepresented within the listing. RED-LIGHT vehicles are sold Buyer Beware. ACV Auctions will not involve themselves in a dispute regarding the condition of a RED-LIGHT vehicle purchase.
Seller Disclosure Requirements:
- Frame Damage (existing, modified or repaired)
- Salvage vehicle (including current title or history)
- Inoperative Odometer / TMU (including history)
- All significant Condition Report disclosers from ACV Auctions are sent to CARFAX
The buyer has 7 business days from the date of auction or 300 miles from listed in the auction (whichever occurs first) to bring a potential FRAME issue to the attention of ACV Auctions.